Are Penalties Tax Deductible? What You Need to Know
Explore the nuances of tax deductions for penalties, including guidelines, distinctions, and considerations for businesses.
Investment and Financial Markets
Cash Out Refinance Rental Property: Key Factors and Tax Implications
Explore the essentials of cash-out refinancing for rental properties, including financial factors and tax considerations for informed decision-making.
What Is a Disaster Distribution and How Does It Affect Your Taxes?
Explore how disaster distributions impact your taxes, including special tax status, penalties, repayment options, and necessary documentation.
Why Isn’t the GCU Zip Code Being Accepted on My 1098-T Form?
Discover solutions for resolving issues with GCU zip code errors on your 1098-T form, ensuring accurate tax form submissions.
Do You Have to Report Income Under $600?
Understand the nuances of reporting small earnings under $600 and how they fit into your overall financial picture.
Reporting Cash Income From Odd Jobs: What You Need to Know
Learn how to accurately report cash income from odd jobs, manage deductions, and understand the necessary tax forms to stay compliant.
Can You Withdraw From a 401K if Unemployed?
Explore the options and implications of accessing your 401K funds during unemployment, including penalties, taxes, and plan-specific rules.
HDHP and PPO Dual Coverage: How It Works and Key Considerations
Explore the nuances of managing dual HDHP and PPO coverage, including payment coordination, HSA eligibility, and tax reporting essentials.
Can You Deduct State Income Tax if You Don’t Itemize?
Explore whether state income tax can be deducted without itemizing and understand the implications of the standard deduction and SALT requirements.
What Is OR FLI Tax and How Does It Affect Your Wages?
Understand how OR FLI tax impacts your wages, who contributes, and the importance of compliance for accurate reporting.
What’s a FEIN and Why Does Your Business Need One?
Discover the importance of a FEIN for your business, from registration to banking, hiring, and how to obtain and update it efficiently.
Medicare and HSA Penalty: What You Need to Know
Understand how Medicare affects HSA eligibility, manage ineligible contributions, and navigate potential penalties with tax coordination insights.
“Will the SSN Issue Date Stay the Same for a Reissued Card?”
Explore how the issue date of a reissued Social Security card impacts credit, taxes, and employment verification.
How Is K-1 Income Taxed and What You Need to Know
Understand the nuances of K-1 income taxation, including allocation, classification, and tax obligations for informed financial planning.
How Do I Find My Annual Income? A Step-by-Step Breakdown
Discover how to accurately calculate your annual income by reviewing salary details, combining revenue streams, and accounting for deductions.
Do I Need a 1095-A to File My Taxes?
Understand the importance of Form 1095-A for tax filing, who needs it, and how to address missing or incorrect information.
What Does State Filing Status S-0 Mean for Your Taxes?
Understand the implications of the S-0 state filing status on your taxes, including withholding calculations and employer reporting requirements.
How to Determine Fair Market Value of a Car for Tax Purposes
Learn how to accurately assess your car’s fair market value for tax purposes with practical tips and reliable resources.
Can I Claim My Mother as a Dependent if She Receives Social Security?
Learn how to determine if you can claim your mother as a dependent despite her receiving Social Security benefits.
What Can Be Included in Cost Basis of Property?
Understand the components that contribute to the cost basis of property, including various fees and improvements, to optimize your financial planning.